finance for sustainable development - uonresearch.org€¦ · over her career, anzetse has worked...

SCHOOL OF BUSINESS

SCHOOL OF BUSINESS

UNIVERSITY OF NAIROBI

Date: 24th-25th October, 2019Venue: University of Nairobi, School of Business

Finance for Sustainable Development

Welcome Notes

Principal’s Welcome Remarks

Dear Participants,

Welcome to the 1st Annual development Finance Conference at the School of business which is one of the Schools within the College of Humanities and Social Sciences (CHSS). The vision of the College of Humanities and Social Sciences reads: "To be a leading unit within the University that promotes academic achievement and excellence in teaching, training, research and consultancy in the Humanities and Social Sciences". Pursuant to this vision, the College constantly monitors developments in its environment and in the world at large. This provides it with societal trends and changes both at home and abroad. The awareness gained enables the College to respond to trends and changes by introducing new academic programmes or modifying existing ones to meet current demand. In this regard, I wish you a successful discourse on the trends and changes that continue to emerge in your discipline of finance as you pursue research and solutions on the possible dual causality of finance and development. Feel welcome to the College of Humanities and Social Sciences

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The University of Nairobi

Prof. Enos H. Nthia Njeru,Principal,College of Humanities and Social Sciences (CHSS),University of Nairobi

Dear Participants,

Welcome to the School of Business. The School of Business, University of Nairobi is located in Lower Kabete Campus, a quiet attractive location suitable for academic thought. The School has over 120 academic staff members spread across three teaching departments namely:-Finance and Accounting, Business Administration and Management Science. The School of Business was established in its present form in 1964, and it produced its first batch of graduates in the Bachelor of Commerce degree in 1967. Currently the School's total student population is slightly over thirteen thousand (13,000) students spread across the following seven programmes:- Bachelor of Commerce, Bachelor of Science in Accounting, Bachelor of Science in Finance, Master of Business Administration, Master of Science in Finance, Master of Science in Marketing, Master of Science in Human Resource Management, Master of Science in Entrepreneurship and innovations management and Doctor of Philosphy in Business Administration. The School of Business has its programmes offered in Lower Kabete Campus, Main campus, Mombasa Campus, Kisumu Campus, Eldoret Learning Centre and through Open, distance and E-learning. In line with the schools vision “To be a world-class business school providing business education, research and consultancy with an African touch” the school of business community warmly welcomes you as you network and share research experiences in Finance.

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Dean’s Welcome Remarks

Prof. Njihia James Muranga,Dean,School of Business, University of Nairobi

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Dear Participants,

It is my pleasure to welcome you to the 1st Annual development finance conference which is part of the University of Nairobi research week. This conference is within our mandate as a department of teaching and examining Finance and Accounting courses at the University of Nairobi as well as spearheading research and developments in our discipline. As envisaged in our vision “To be a world-class Department providing accounting and finance education, research and consultancy with an African touch”, this conference presents a learning opportunity as scholars show case research output and share valuable experiences from the industry partners. As I wish the participants fruitful deliberations during the conference, I take this opportunity to remind you that the Department of Finance and Accounting is one of the three departments in the School of Business and is at the forefront in supporting the overall University Vision of being a World class University committed to Scholarly excellence.

Chairman of Department Welcome Remarks

Prof. Mwangi W. Mirie,Chairman,Department of Finance and Accounting,School of Business, University of Nairobi

Conference Committee Welcome Remarks

Dear Conference Participants,

It is with great pleasure that we welcome you to the 1st annual development finance conference hosted by the department of Finance and Accounting at the School of Business, University of Nairobi here at Lower Kabete Campus. The conference brings together students, academics, policy makers and practitioners to showcase research, network and collaborate. This conference is part of the wider University of Nairobi Research Week 2019, which is in line with the University’s effort to promote a culture of innovation and outreach.

You recall, the chicken or the egg causality dilemma commonly posed as "which came first: the chicken or the egg?". The dilemma stems from the observation that all chickens hatch from eggs and all chicken eggs are laid by chickens. A similar scenario is coined in the finance or development causality dilemma also posed as "which comes first: Finance or Development?". For the next two days, the Annual Development Finance Conference (ADFC) presents an opportunity to belabour on the second day to day causality dilemma.

Backed by solid empirical evidence, development practitioners are becoming increasingly convinced that efficient, well-functioning financial systems are crucial in channeling funds to the most productive uses and in allocating risks to those who can best bear them, thus boosting economic growth, improving opportunities and income distribution, and reducing poverty. Developing countries with sustainable development goals, Vision 2030 and Big 4 Agenda development objectives should take keen scrutiny on the unresolved Finance or Development nexus debate. This also comes at a time that globally, solutions are quickly emerging from the Digital ecosystems that quickly disrupt the traditional ways of offering financial solutions, products and/ or services. The ADFC presents an initiative to probe and disseminate findings on developing country financial systems, markets, instruments and institutions and their contributions to overall development.

As we wish you fruitful deliberations, we thank all participants for submitting their papers and registering for the conference otherwise we wouldn’t be here. We truly owe our key note speakers gratitude for accepting to forgo their busy schedules just to infuse into our academic discussions industry practice. We also sincerely appreciate the efforts on the UoN Research Week Organizing committee, UoN Management and School of Business leadership who have over the time challenged us to spearhead this noble course and deliver

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Lastly, a conference of this magnitude is only successful with the financial and technical support from our endowed conference partners. We owe our conference partners for their contributions to this end. Please feel at home in this conference as your receive our warm welcome.Enjoy your stay and our hospitality in this beautiful campus.

Dr. Duncan Elly Ochieng’ Chairman – ADFC Committee

1.Prof. Mirie Mwangi – Chairman – Department of Finance and Accounting

2.Pof Erasmus S. Kaijage - Barclays Endorments Chair Professor

3.Dr. Duncan Elly Ochieng – Chairman – Annual Development Finance Conference

4.Dr. Cyrus Iraya – Department of Finance and Accounting

5.Dr. Winnie Nyamute – Department of Finance and Accounting

6.Dr. Kennedy Okiro – Department of Finance and Accounting

7.Dr. Nixon Omoro – Department of Finance and Accounting, Kisumu Campus

8.Dr. Ziporah Onsomu – Department of Finance and Accounting, Mombasa Campus

9.Dr. Argan Wekesa – Cooperative University of Kenya

10.Mr. Job Ooko – Department of Finance and Accounting, Kisumu Campus

Conference Committee

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KeyNote Speakers

Dr Muhammad Gambo is a Quantity Surveyor, Public Private Partnerships (PPP) transaction advisor and Sustainable Development advocate with expertise in consulting, lecturing, strategic and policy research. He currently leads the Policy, Research and Partnership unit of Shelter Afrique; Responsible for the policy, research, partner relationships and resource mobilization initiatives of the organization towards providing innovative solutions to the housing and urban development challenges in Africa.

He holds a Doctor of Philosophy and Master’s Degree in Real Estate and Facilities Management from Universiti Tun Hussein Onn Malaysia; And a bachelor’s degree in Quantity Surveying from Ahmadu Bello University, Zaria, Nigeria. Furthermore, Dr Gambo is a member of the United Nations University acknowledged Regional Center of Expertise (RCE) on Education for Sustainable Development; Member of Community of Practice (CoP) on Financing for Development, United Nations Institute for Training &; Research (UNITAR); And Expert, Inclusive Policy Lab at the United Nations Educational, Scientific and Cultural Organization (UNESCO). Dr Gambo has a track record of publications including several International Council for Research and Innovation in Building and Construction (CIB) recognized journals and conference proceedings. His research and policy interests includes affordable housing delivery, innovative financing techniques for infrastructure projects, infrastructure reform and regulation, built environment research techniques & methodology and sustainable development.

Anzetse Were is a development economist with over ten years of experience working in Africa on Economic Research, Analysisand Strategy Development with a focus on Macroeconomics; Manufacturing; Private Sector Development; the Informal Economy and Sino-African Relations. She has a Masters in Economics from the University of Sydney (Australia) and a Bachelor’s degree from Brown University (USA). Over her career, Anzetse has worked with African governments, private sector, development finance institutions, non-profit organisations, as well as academia and think tanks. She is currently Economist at FSD Kenya and resides in Nairobi, Kenya.

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Dr Muhammad Gambo

Anzetse Were

George Mwakisha, A Blockchain expert and Crypto currencies investment and trading advisor. Has over 10 year banking experience having worked with Stanchart, Barclays and Ecobank Kenya. He is currently The Business and Investment Manager at KuBitX Global Exchange. KuBitX is a Hybrid Digital Asset trading exchange platform with Fiat conversion capabilities.

George Mwakisha

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David Gichana is the Deputy Auditor General in Kenya, serving as regularity engagement partner. He has extensive experience in the public sector in Kenya in accounting as well as auditing. He is a member of the Public Sector AccountingStandards Board of Kenya, where he has been instrumental in capacity building public entities in implementing IPSAS. Mr. Gichana is a Public Finance Management and auditing trainer, withexperience at the African Organization of English-speaking Supreme Audit Institutions, theInstitute of Chartered Public Accountants of Kenya, and the Ghana Audit Service, among others.

David Gichana

Frank Kamande HSC is the Chairman of National Cooperative Housing Union, Chairman of Education, Training and Business Development of Cooperative Alliance of Kenya, a Member of ICA - Africa, Housing Member. A former governor in Kepsa and a doctorate student in Management University of Africa.

Frank Kamande

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Kennedy Abong’o is a public policy entrepreneur, with specific interests in public financemanagement. He is currently a manager and a senior fiscal analyst in the Fiscal Affairs Department of the Commission on Revenue Allocation. His other work spans professional advisory and financial management for government, private firms and not-for-profits. He loves the City of Nairobi, and has developed research interests in vertical imbalances within decentralized fiscal governance, taxation,public expenditure management as well as the overarching concept of fiscal responsibility.

Kennedy Abong’o

Wangari Muikia is the CEO of Expertise Global Consulting and a Public Finance Management specialist. She is an economist specializing in public finance management across Africa and the globe. She has specific interest in own source revenues, fiscal decentralization and aid effectiveness, and how they affect different sectors. She holds a Master of Public Administration in International Development from Harvard University and Master of Public Administration from University of Oklahoma.

Wangari Muikia

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Conference Itinerary

Date

Time

24.10.2019

Topic

Arrival and Registration

Official Opening

Financing Housing in the Big 4 Agenda projects; The PPPs Framework

Dr. Muhammad Gambo- Manager, Policy, Research and Partnerships – ShelterAfrique

Dr. Duncan Elly

Dr. Duncan Elly

Affordable Housing: Policyand Practice in the HousingCooperative sector

Digital Finance; Lessons, Policy and Research Directions for Financing Development in the 4th Industrial revolution

Digital Financial Inclusion for sustainable development

Touch Kenya

Francis Kamande – Chairman, National Cooperative Housing Union

Ms. Anzetse Were – FSD Kenya

Dr. Duncan Elly

Dr. Duncan Elly

Dr. Duncan Elly

Dr. Kennedy Okiro

8.00 – 8.30am

8.30 – 9.00am

9.00 – 9.30am

9.30 – 10.00am

10.00 – 10.30am

10.30 – 11.00am Health Break

11.00 – 11.30am

Digital Economy: Opportunities, Lessons, Policy and Research Directions for Kenya

Ajira Kenya Dr. Kennedy Okiro11.30 – 12.00pm

Block chain Revolution: Demystifying Crypto assets

George Mwakisha - KubitX

Dr. Kennedy Okiro12.00 – 12.30pm

Plenary Session12.30 – 01.00pm

Conference CommitteeAcademic paper presentations and plenary discussions

Fintech Challenge Presentations

02.00 – 04.00pm

02.00 – 04.00pm

Health Break and Departure04.00 – 05.00pm

Lunch Break01.00 – 02.00pm

Presenter Moderator

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Date

Time

25.10.2019

Topic

Arrival and Registration

Taxation in the Digital Economy: Opportunities, challenges and research directions for Kenya

Faustin Mwinzi – KCA University

Dr. Nixon Omoro

Health Financing: Comparative practices in Developed and DevelopingCountry Contexts

The 4th generation revenueallocation formula: Implications and research directions for counties

Budget performance and economic development; lessons, policy and researchdirections for Kenya

CPA Agnes Odhiambo –Immediate former Controller of Budget

Wangari Muikia – CEO,Expertise Global Consulting

CPA Kennedy Abongo – Manager, Commission ofRevenue Allocation

Dr. Nixon Omoro

Dr. Nixon Omoro

Dr. Argan Wekesa

8.00 – 9.00am

9.00 – 9.30am

9.30 – 10.00am

10.00 – 10.30am

10.30 – 11.00am

Health Break

11.00 – 11.30am

Financial Reporting standards in Public Sector development Projects: Lessons, Policy and ResearchDirections for Kenya

CPA Geurhina Muchai – Board Member PSASB

11.30 – 12.00pm

Value for Money in Public Sector development Projects: Lessons, Policy andResearch Directions for Kenya

David Gichana – Deputy Auditor General,Kenya

12.00 – 12.30pm

Plenary Session12.30 – 01.00pm


Dr. Duncan Elly

Academic paper presentations and plenary discussions02.00 – 04.00pm

Fintech Challenge, Way Forward, Certification, Closure, Health Break and Departure

04.00 – 05.00pm

Lunch Break01.00 – 02.00pm

Presenter Moderator

Dr. Nixon Omoro

Dr. Argan Wekesa

Dr. Argan Wekesa

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Date

Time

24.10.2019

Stream Development Finance

Topic

Fiscal Responsibility Law Compliance in Counties andNational Government to Achieve Big 4 Agenda

Kelvin Mbithi (UON, SOL)

Conference Committee02.00 - 02.15pm

Effect of Financial Development Initiatives onGrowth of Small and Medium Manufacturing Enterprises in Nairobi County, Kenya;

Lydia Wandiri (KCA, SOBPM)

02.15 - 02.30pm

Analysis of operating efficiency of housing co-operative societies in Kenya: Using Data Envelopment Analysis Approach

Kalundu Kimanzi (UON, SOB)

02.30 - 02.45pm

Adapting Investment Criteriato Climate Change

Argan Wekesa (PhD) – CUK

02.45 - 03.00pm

Capital Market Growth and Big Four Agenda Development

Ngunjiri N. (UON, SOB)

03.00 - 03.15pm

Role of Financial Capabilitiesin Harnessing Digital MobilePayments for Enterprise Success in Starehe Constituency, Nairobi County

Muraya Grace Njeri (IDS, UON)Duncan Elly(UON, SOB)

03.15 - 03.30pm

Effect of Financing Infrastructure projects UsingPublic Private Partnership onPhysical Infrastructure Development in fulfilment ofthe Big Four Agenda

Kerongo Maatwa Meshack (UON, SOB), Dr Duncan Elly Ochieng(UON, SOB), Teimet Rotich Paul (UON, SOB

Financial structure, Credit Allocation and InfrastructuralDevelopment in the CountyGovernments of Kenya

Dr. Nixon Oluoch Omoro(UON, SOB)

Relationship between Part time instructors and Performance of Public Universities in Kenya’s Economy: Effects of non-payment of Salaries

Grace Musa (TUK)

03.30 - 03.45pm

03.45 - 04.00pm

04.15 – 04.30pm

Presenter Moderator

Academic Paper Presentations

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Date

Time

24.10.2019

Stream Corporate Finance

Topic

Does Franchising Create Value for its Owners? A critical Review of Literature

Tabitha Wanjiku Njuguna,Duncan Elly Ochieng,PhD,Cyrus Iraya Mwangi,PhD



02.00 - 02.15pm

Ownership Structure and Value of Companies Listed at the Nairobi Securities Exchange

Henry Kimathi Mukaria,Prof. Mirie Mwangi, Dr. Duncan Elly Ochieng’Dr. Kennedy Okiro (UON, SOB)

02.15 - 02.30pm

Revenue Streams Diversification and Returnson Assets of Commercial Banks in Kenya

Teimet P., Prof. Lishenga J. (PhD), Dr. Iraya M. (PhD), Dr. Duncan E. (PhD)(UON, SOB)

02.30 - 02.45pm

Bank Characteristics, Interest Rate Spreads, Regulatory requirements and Profitability: A Critical Literature Review

Argan Wekesa (PhD) – CUK

02.45 - 03.00pm

Anti – Money Laundering Disclosures and Financial Performance of CommercialBanks in Kenya

Margaret Mwambi (UON, SOB)

03.00 - 03.15pm

The relationship between Dividend Pay-out and financial performance: A study of Listed Companies inKenya

Teresiah Chumari (UON, SOB)

03.15 - 03.30pm

Voluntary Disclosures and the Quality of Financial Reporting For Companies Listed at the Nairobi Securities Exchange

Nyabuti A.N (TTUC)

Behavioral Finance in Developing Economies and the Influence of Financial Literacy

Alex Mutemi Dr. Zipporah Onsomu (UON, SOB)

03.30 - 03.45pm

Stream Personal Finance

03.45 – 04.00pm

Presenter Moderator


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Date

Time

25.10.2019

Stream Development Finance

Topic

Economics of Bride Price in Kenya

Ngunjiri N. (UON, SOB)



02.00 - 02.15pm

Effect of Islamic Financial Literacy Training on the Financial Performance of Selected Islamic Banks in Kenya

Wilfred Andalya Eshiwani,Dr. Ibrahim Tirimba Ondabu (PhD) (KCAU, SOBPM)Kennedy Okiro

02.15 - 02.30pm

Higher Education FundingModels, Budgetary Allocation, Loan Recovery and Sustainability of Students’ Loans Schemes: A critical Literature Review

Titus Mokaya Mabeya (UON, SOB)

02.30 - 02.45pm

Impact of Foreign Direct Investment on Economic Development in DevelopingCountries: The Case of Kenya

Daniel Kon Ater (UON, SOB)

02.45 - 03.00pm

Exchange Rate and Performance of the Residential Property Market in Kenya

Charles Njoroge, Willy M. MuturiOluoch Oluoch (JKUAT)Argan Wekesa

03.00 - 03.15pm

Financing Affordable Housing through ProvidentFunds

Argan WekesaCIFA, CPA (K), M.Sc, PhD (CUK)

03.15 - 03.30pm

Effect of Bond Market development on Economic Growth in EAC Countries

Akinyi Nehemma JumaDr. Elly Duncan (UON, SOB)

Financial Literacy of Customers and Loan Performance of CommercialBanks in Kenya

Edward Onyango Dr. Zipporah Onsomu

03.30 - 03.45pm


03.45 – 04.00pm

Presenter Moderator


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Date

Time

25.10.2019

Stream Corporate Finance

Topic

Nyatichi V, Iraya Cyrus (PhD), Prof. Mwangi Mirie (PhD)Prof. Njihia James (PhD)(UoN, SOB)




02.00 - 02.15pm

Corporate governancepractices and financialperformance of NGOs operating in Homabay county

Jackline Adhiambo Okoth(UoN,SOB)Job Ooko

02.15 - 02.30pm

Determinants of leasing decisions among insurancecompanies in Kenya

Grace Engefu (UoN, SOB)Job Ooko

02.30 - 02.45pm

Equity Unit Trust Funds Flow and Stock Market Return; Evidence from Kenya

Ndei Caroline M., Muchina Stephen Waweru Kennedy

02.45 - 03.00pm

Validation of Capital Asset Pricing Model in Calculationof Expected Returns and Pricing of Risky securities atthe Nairobi Securities Exchange

Bunde Bowe Michael Dr. Elly Duncan

03.00 - 03.15pm

03.15 - 03.30pm

Effect of Demonetization onForeign Exchange Marketreturns In Kenya

Agunga Mourine Dr. Elly Duncan (UON, SOB)

Effect of Demonetization onSecurities Market Performance In Kenya

Catherine Kageha AdikaDr. Elly Duncan (UON, SOB)

The Relationship betweenClimate Related Disclosuresand Value of Firms Listed atthe Nairobi Securities Exchange

Mr. David MauaDr. Kennnedy Okiro (UON, SOB)

03.30 - 03.45pm

Stream Investments and Portfolio Management

03.45 – 04.00pm

Presenter Moderator


Mediating role of ExecutiveCompensation on the association between Corporate Governance and Earnings Management of Companies listed at the Nairobi Securities Exchange

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Time


Topic

Financial Literacy of Customers and Loan Performance of CommercialBanks in Kenya

Edward Onyango Dr. Zipporah Onsomu

04.15 - 04.30pm

Conference CommitteeEffect of Money attitudes onDigital Finance uptake amongst University of Nairobiundergraduate business students

Dr. Elly Duncan (UON, SOB)

04.00 – 04.15pm

Presenter Moderator


University of NairobiP.O. Box 30197, GPO, Nairobi, Kenya

Tel: (+254-20) 491 0000Facebook: University of Nairobi

Twitter: @uonbi

https://financeaccounting.uonbi.ac.ke/

A Worldclass University Committed To Scholarly Excellence

finance for sustainable development - uonresearch.org€¦ · over her career, anzetse has worked...

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